HanJoo Light Metal's 7th Convertible Bond Conversion of 384,415 Shares Causes Minor Dilution
HanJoo Light Metal disclosed that on June 30, 2026, a conversion right was exercised for 384,415 shares of its 7th unregistered, interest-bearing, unsecured private convertible bond.
The conversion price was adjusted from 783 won to 1,566 won due to a 2:1 reverse stock split, and the converted shares represent approximately 1.98% of total outstanding shares of 19,461,489.
The remaining unconverted bond balance stands at 3.573 billion won, allowing for additional conversion of about 2.28 million shares, posing a latent dilution risk.
[AI Summary]The immediate dilution from this conversion exercise is limited to under 2%, but the large unconverted balance implies potential future dilution that could pressure the stock price. The conversion price adjustment from the reverse split requires monitoring relative to market price.